IF WE CAN HAVE A BANNER WARNING ABOUT SCAMMERS...SOCIAL MEDIA PLATFORMS CAN TOO!
IF WE CAN HAVE A BANNER WARNING ABOUT SCAMMERS...SOCIAL MEDIA PLATFORMS CAN TOO!
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"Pig Butchering Scam " is a disparaging metaphor coined by scammers to describe the act of deceiving a victim after gaining their trust through a romantic relationship before having the victim invest a large sum of money into what they think is a legitimate crypto transaction. Undenounced to the victim, their money went to the scammer and not towards any investment.
Like feeding a pig then slaughtering once “ready”.
Investment/Romance Scams, also known as "Pig Butchering Scams," emerged in 2020 during the Covid pandemic when online users were becoming more familiar with cryptocurrency. Taking advantage of people being confined at home with limited social interaction, scammers saw an opportunity. Originating in Southeast Asia, these scams differ from the typical romance scams from West Africa as they are orchestrated by traffickers who exploit victims to deceive others and generate profits for their bosses. Failure to meet quotas could result in the trafficked individual facing physical abuse, torture, or even death.
In recent times, Pig Butchering has captured the interest of various entities such as the media, legislators, and even the United Nations. When significant amounts of money are deceptively extracted from individuals under a dubious scheme, it tends to draw widespread attention. The financial losses, due to this particular scam, increase substantially each year, not only within the United States but on a global scale as well.
Individuals become victim to Investment/Romance Scams through online messages and or purposeful “wrong number” text messages, leading to romantic involvement and cryptocurrency investment promises. Scammers build trust, convince victims to invest, then disappear with the funds, causing financial loss and emotional distress.
Those who target scam victims and deceive them into giving up their life savings are also victims in their own way. It all starts with an innocent person responding to a job ad. Many individuals are seeking a better future for themselves and their loved ones, so the enticing promises made during the job interview seem too good to pass up. Regrettably, unbeknownst to the new employee, they are stepping into a world of crime, deceit, and exploitation. Their new role involves engaging in various online criminal activities, one of which includes Pig Butchering, often at a compound located in high-rise casinos.
To make investment/romance scams more enticing to victims, scammers create accounts with stolen photos to lure their targets. Unfortunately, individuals whose pictures are misused may encounter instances of stalking by those who became victim to emotional and financial exploitation by the scammers. Moreover, identity theft victims may face challenges to their reputation as the scams are associated with one or a multitude of their images. Social media platforms that permit the ongoing use of these stolen photos provide little to no support in such scenarios.
You are viewing a photo of the KK Park Myanmar compound, captured by Stefan Czimmek and featured by DW. This compound resembles numerous others that accommodate thousands of trafficked victims engaged in investment or romance scams. Recently, this specific compound was raided, leading to the liberation of 1,200 trafficked individuals. However, the UN suggests that over 100,000 trafficked individuals are still being kept in Myanmar to operate in scam facilities.
Investment/romance scammers, also known as Pig Butchering scammers, operate on various social media platforms. This is where the initial contact begins, where they conduct their fraudulent activities, gather information about their targets, and engage in encrypted conversations. Platforms bear minimal responsibility in addressing illegal activities on their websites; giving fraudsters a free playground to emotionally, psychologically and financially harm innocent individuals.
The deceptive practices in Pig Butchering surpass what many might expect. Were you aware that scammers go to extreme lengths, creating elaborate websites to deceive victims into believing the company they are asked to invest in is a legitimate agency? These websites are so intricate that individuals without expertise may not realize the deception. The picture shown is of a fake crypto investment website called CadroAssessts.
Shouldn't it say, "Earn with us for A bright future"?
Advocating Against Romance Scammers
P.O. Box 6112, Fresno Ca 93701
Copyright © 2016 Advocating Against Romance Scammers - All Rights Reserved.
FEDERAL TAX ID (EIN):85-0518427
EMAIL: aars@advocatingforu.com
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